Cadian Capital Management LP Invests $50.51 Million in BigCommerce Holdings, Inc. (NASDAQ:BIGC)
Cadian Capital Management LP acquired a new position in BigCommerce Holdings, Inc. (NASDAQ:BIGC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,076,592 shares of the company’s stock, valued at approximately $50,512,000. BigCommerce comprises approximately 2.4% of Cadian Capital Management LP’s investment portfolio, making the stock its 16th largest holding. Cadian Capital Management LP owned about 6.76% of BigCommerce at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BIGC. Alliancebernstein L.P. grew its stake in shares of BigCommerce by 84.8% in the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock worth $74,228,000 after purchasing an additional 2,301,491 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of BigCommerce by 85.8% in the 2nd quarter. Wasatch Advisors LP now owns 4,230,572 shares of the company’s stock worth $42,094,000 after purchasing an additional 1,953,052 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of BigCommerce in the first quarter worth approximately $10,127,000. B. Riley Asset Management LLC purchased a new position in shares of BigCommerce in the fourth quarter worth approximately $4,285,000. Finally, Norges Bank purchased a new position in shares of BigCommerce in the fourth quarter worth approximately $3,788,000. Institutional investors and hedge funds own 72.92% of the company’s stock.
BigCommerce Stock Up 1.4 %
Shares of NASDAQ BIGC traded up $0.13 during mid-day trading on Friday, reaching $9.10. 423,498 shares of the company traded hands, compared to its average volume of 594,624. The company has a debt-to-equity ratio of 17.08, a quick ratio of 5.09 and a current ratio of 5.09. The stock has a market cap of $692.42 million, a PE ratio of -7.17 and a beta of 0.79. The company’s fifty day moving average is $9.22 and its two-hundred day moving average is $9.72. BigCommerce Holdings, Inc. has a fifty-two week low of $6.81 and a fifty-two week high of $13.39.
BigCommerce (NASDAQ:BIGC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $78.05 million during the quarter, compared to the consensus estimate of $78.12 million. BigCommerce had a negative return on equity of 187.16% and a negative net margin of 31.74%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) EPS. On average, analysts expect that BigCommerce Holdings, Inc. will post -0.63 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of BigCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, November 9th. Piper Sandler reissued a “neutral” rating and issued a $11.00 target price on shares of BigCommerce in a research report on Thursday, November 16th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a research report on Monday, November 27th. The Goldman Sachs Group dropped their target price on shares of BigCommerce from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Friday, November 10th. Finally, UBS Group assumed coverage on shares of BigCommerce in a research report on Friday, September 22nd. They set a “neutral” rating and a $12.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.82.
Get Our Latest Stock Analysis on BIGC
Insider Buying and Selling
In related news, Director Jeffrey Gordon Richards sold 132,563 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $8.75, for a total transaction of $1,159,926.25. Following the completion of the transaction, the director now owns 15,480 shares in the company, valued at approximately $135,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.82% of the stock is owned by corporate insiders.
About BigCommerce (Free Report)
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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